Analysis of the Role of Institutions and Technologies in Economic Growth of the Late USSR in a Cross-Country Comparison
The article presents the results of a study aimed at defining the role of institutional and technological dynamics in the economic growth of the late USSR in comparison with reference countries. We propose a modification of the production function, similar to the exogenous growth model by Mankiw, Ro...
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| Format: | Article |
| Language: | Russian |
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Government of the Russian Federation, Financial University
2021-02-01
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| Series: | Мир новой экономики |
| Subjects: | |
| Online Access: | https://wne.fa.ru/jour/article/view/299 |
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| author | D. V. Didenko N. V. Grineva |
| author_facet | D. V. Didenko N. V. Grineva |
| author_sort | D. V. Didenko |
| collection | DOAJ |
| description | The article presents the results of a study aimed at defining the role of institutional and technological dynamics in the economic growth of the late USSR in comparison with reference countries. We propose a modification of the production function, similar to the exogenous growth model by Mankiw, Romer, Weil (1992) with physical and human capital, by augmenting it with variables for institutional and general technological components. We present our new estimates of the effects of an increase in physical and human capital in the late Soviet economy. Also, we obtain statistical assessments of the negative contribution of the decrease in the technological level of the industrial economy of the USSR. We partially confirm the hypothesis about the deterioration of the institutional environment in the USSR. But its negative contribution was not more decisive and more significant than in other countries. Thus, the idea of the doom of the Soviet economy, due to the substantial flaws of its institutions, was not confirmed. Finally, we discuss the prospective lines of further exploration into the issues under study. |
| format | Article |
| id | doaj-art-5cd29825968b4343a65f3c6d20046025 |
| institution | DOAJ |
| issn | 2220-6469 2220-7872 |
| language | Russian |
| publishDate | 2021-02-01 |
| publisher | Government of the Russian Federation, Financial University |
| record_format | Article |
| series | Мир новой экономики |
| spelling | doaj-art-5cd29825968b4343a65f3c6d200460252025-08-20T03:00:30ZrusGovernment of the Russian Federation, Financial UniversityМир новой экономики2220-64692220-78722021-02-01144819510.26794/2220-6469-2020-14-4-81-95289Analysis of the Role of Institutions and Technologies in Economic Growth of the Late USSR in a Cross-Country ComparisonD. V. Didenko0N. V. Grineva1Russian Presidential Academy of National Economy and Public AdministrationFinancial University, Russian Presidential Academy of National Economy and Public AdministrationThe article presents the results of a study aimed at defining the role of institutional and technological dynamics in the economic growth of the late USSR in comparison with reference countries. We propose a modification of the production function, similar to the exogenous growth model by Mankiw, Romer, Weil (1992) with physical and human capital, by augmenting it with variables for institutional and general technological components. We present our new estimates of the effects of an increase in physical and human capital in the late Soviet economy. Also, we obtain statistical assessments of the negative contribution of the decrease in the technological level of the industrial economy of the USSR. We partially confirm the hypothesis about the deterioration of the institutional environment in the USSR. But its negative contribution was not more decisive and more significant than in other countries. Thus, the idea of the doom of the Soviet economy, due to the substantial flaws of its institutions, was not confirmed. Finally, we discuss the prospective lines of further exploration into the issues under study.https://wne.fa.ru/jour/article/view/299planned economynew growth theoriesproduction functionhuman capitalinstitutional environmenttechnological level |
| spellingShingle | D. V. Didenko N. V. Grineva Analysis of the Role of Institutions and Technologies in Economic Growth of the Late USSR in a Cross-Country Comparison Мир новой экономики planned economy new growth theories production function human capital institutional environment technological level |
| title | Analysis of the Role of Institutions and Technologies in Economic Growth of the Late USSR in a Cross-Country Comparison |
| title_full | Analysis of the Role of Institutions and Technologies in Economic Growth of the Late USSR in a Cross-Country Comparison |
| title_fullStr | Analysis of the Role of Institutions and Technologies in Economic Growth of the Late USSR in a Cross-Country Comparison |
| title_full_unstemmed | Analysis of the Role of Institutions and Technologies in Economic Growth of the Late USSR in a Cross-Country Comparison |
| title_short | Analysis of the Role of Institutions and Technologies in Economic Growth of the Late USSR in a Cross-Country Comparison |
| title_sort | analysis of the role of institutions and technologies in economic growth of the late ussr in a cross country comparison |
| topic | planned economy new growth theories production function human capital institutional environment technological level |
| url | https://wne.fa.ru/jour/article/view/299 |
| work_keys_str_mv | AT dvdidenko analysisoftheroleofinstitutionsandtechnologiesineconomicgrowthofthelateussrinacrosscountrycomparison AT nvgrineva analysisoftheroleofinstitutionsandtechnologiesineconomicgrowthofthelateussrinacrosscountrycomparison |